Differences Between

Successful Company Focuses on creation of customer Believes in Marketing and Innovation Believes that marketing is an integrated function Sees marketing as the kaleidoscope of the entire business function Follows a concept of satisfying internal and external customers Unsuccessful Company Focuses on creation of short- run profit Believes in Produce and Sell Believes other functions to be more important Sees Marketing as an independent function Ignores external and internal customers; works only on buyers of the products

Reasons for agreement

Marketing is the front- end of each firm Defines ways for further R&D in the firm Businesses have become dynamic now Need marketing for pacing up Cutting off marketing from other decisions makes firm a laggard in the market Integrated marketing is the name of the game Having cordial relationships with suppliers, distributers, employees, customers, outsourcing is equally important as is manufacturing a good product

How it works!

Why Marketing over others?

Has an in- out approach Studies what will work in the market and is thus cost- oriented Integrates all other functions Creates a grid of goals Determines the required resources for accomplishment of goals Checks unwanted deviations

The other functions

Planning
Cannot move without knowledge of market. Needs another full fledged department Depends heavily on marketing department at each step

Organizing
Depends on planning Needs an insight of market before allocation of resources

Coordinating
What/ When/ How/ How much to produce? All answers depend on market research

The other functions

Implementing
What the market demands is what they must do! What they do affects the market wholly so they must be careful

Controlling
Entire process is centralized towards market needs If deviation occurs, lots of wastage happens

Learning
Changes are learnt as per market demand and supply Processes need to be altered to suit market study